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296 Lester Ave, Oakland, CA 94606

Oakland
Local realty services provided by:CENTURY 21 Coastal Properties
296 Lester Ave,Oakland, CA 94606
$1,895,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: joseph owens
Office: marcus & millichap510-379-1200
MLS#:41151543
Source:CRMLS

Price summary

  • Price:$1,895,000

About this home

Eight 2BR/1BA units near Lake Merritt offering a 6.23% current cap rate and 8.20% at market rents. Average scheduled rent of $2,186 trails the $2,600 market rent by 18.9%. Six of eight units are renovated, and one vacant unit is scheduled at market. Oakland rents rose 13.0% year over year as of July 2026 (Apartment List), second-fastest among the 100 largest U.S. cities, as San Francisco's AI-driven rent surge pushes renters east. Current NOI $118,092; NOI at market rents $155,330.

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Home facts

  • Year built:1959
  • Subdivision & Development:LAKE MERRITT
  • Listing ID #:41151543
  • Added:5 day(s) ago
  • Updated:October 22, 2026 at 11:17 AM

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Year built:1959
  • Lot area:0.14 Acres
  • Construction Materials:Wood Siding

Finances and disclosures

  • Price:$1,895,000
  • Tax amount:$31,711

Parking

  • Total parking spaces:6
The information being provided by California Regional MLS (Southern California) is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS (Southern California). CENTURY 21 Coastal Properties is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of CENTURY 21 Coastal Properties, a broker participant of California Regional MLS (Southern California). This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by California Regional MLS (Southern California) and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2021 California Regional MLS (Southern California). All rights reserved. CRMLS Member Broker: Jennette Toderick

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